A new standalone streaming TV service called Sezmi has launched a pilot program in LA, after announcing it had raised another $25 million in funding. So what is this thing?

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The Sezmi plans to compete with cable and satellite TV by offering live TV and on-demand and Web video content — all through one set-top box that looks like a more sober cousin of the TiVo. You’ll finally be able to ditch your cable and dish and go what I call “full Hulu” — all your video will be Internet-delivered.

Of course, you’ll need all your usual channels. Sezmi has partnered with 25 of cable’s most-watched networks (Discovery, MTV, Turner, etc.) and all the major broadcasters (ABC, CBS, Fox, NBC, CW, Univision, and Telemundo), so most of the channels you’re accustomed to getting from your current TV provider will be available. Sezmi has also partnered with movie studios to deliver their content: Sony, MGM, Paramount, Warner Bros., Lionsgate, and Universal are all participating.

At the risk of launching into another who’s-who list, I’ll just say Sezmi is well-funded by a variety of VC firms you’ve heard of, as well as one “unnamed strategic investor,” according to Variety.

How much? The service plans start at just five bucks. You read that right. In fact, to go all-out and get the full on-demand package, it’s only $25 a month. Of course, these prices could change once Sezmi does its final rollout, but for now, the details are an auspicious start. We’ll learn more at CES come January.